Chinese state firms launch $774m science & tech fund in Shanghai

Chinese state firms launch $774m science & tech fund in Shanghai

Four months after the launch of China’s STAR Market aimed at improving the country’s market liquidity and tech self-sufficiency, a group of state-backed companies have jointly set up a fund of funds (FoF) with 5.5 billion yuan ($774.40 million) in initial capital to back tech investments.

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